Blue Whale Capital LLP Makes New $35.15 Million Investment in Waste Management, Inc. $WM

Blue Whale Capital LLP purchased a new stake in Waste Management, Inc. (NYSE:WM) in the second quarter, Holdings Channel reports. The institutional investor purchased 157,721 shares of the business services provider’s stock, valued at approximately $35,153,000. Waste Management comprises about 1.1% of Blue Whale Capital LLP’s portfolio, making the stock its 21st largest position.

Several other hedge funds also recently made changes to their positions in the business. Brighton Jones LLC increased its holdings in shares of Waste Management by 51.1% in the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock valued at $1,384,000 after buying an additional 2,320 shares in the last quarter. Sprott Inc. bought a new stake in shares of Waste Management during the 1st quarter worth $325,000. Sei Investments Co. grew its holdings in shares of Waste Management by 8.0% in the 2nd quarter. Sei Investments Co. now owns 272,438 shares of the business services provider’s stock worth $62,339,000 after acquiring an additional 20,122 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Waste Management by 68.2% during the second quarter. The Manufacturers Life Insurance Company now owns 366,416 shares of the business services provider’s stock worth $83,843,000 after purchasing an additional 148,590 shares during the period. Finally, Glenview Trust co lifted its holdings in shares of Waste Management by 5.1% during the second quarter. Glenview Trust co now owns 3,338 shares of the business services provider’s stock valued at $764,000 after purchasing an additional 162 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Stock Down 0.1%

NYSE:WM opened at $223.87 on Monday. The business’s fifty day moving average price is $228.06 and its 200 day moving average price is $227.79. The firm has a market capitalization of $89.48 billion, a price-to-earnings ratio of 31.71, a PEG ratio of 2.83 and a beta of 0.44. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.24. Waste Management, Inc. has a 1-year low of $194.11 and a 1-year high of $248.13.

Waste Management (NYSE:WM) last released its earnings results on Tuesday, July 28th. The business services provider reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.04. The company had revenue of $6.68 billion for the quarter, compared to analysts’ expectations of $6.71 billion. Waste Management had a return on equity of 31.68% and a net margin of 11.11%.The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.92 EPS. On average, sell-side analysts forecast that Waste Management, Inc. will post 8.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Oppenheimer dropped their price target on Waste Management from $264.00 to $263.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 8th. UBS Group upped their price objective on shares of Waste Management from $265.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. TD Cowen raised their target price on shares of Waste Management from $270.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Canadian Imperial Bank of Commerce lowered shares of Waste Management from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. Finally, Scotiabank upped their price target on shares of Waste Management from $250.00 to $260.00 and gave the company a “sector perform” rating in a research report on Thursday, July 16th. Thirteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $258.89.

Waste Management Company Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.